BidaskClub Downgrades Luminex (LMNX) to Strong Sell

Luminex (NASDAQ:LMNX) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently issued reports on LMNX. ValuEngine upgraded shares of Luminex from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Jefferies Group reiterated a “hold” rating and set a $21.00 target price on shares of Luminex in a research report on Friday, October 20th. Finally, TheStreet upgraded shares of Luminex from a “c+” rating to a “b-” rating in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. Luminex currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Shares of Luminex (LMNX) traded down $0.14 during mid-day trading on Wednesday, hitting $19.84. 93,700 shares of the stock were exchanged, compared to its average volume of 200,816. Luminex has a 52 week low of $17.68 and a 52 week high of $22.42. The firm has a market cap of $874.04, a PE ratio of 29.61, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Luminex had a net margin of 23.76% and a return on equity of 16.49%. The company had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.38 million. During the same quarter in the prior year, the company posted $0.21 EPS. The business’s revenue was up 4.1% on a year-over-year basis. equities research analysts expect that Luminex will post 0.49 earnings per share for the current fiscal year.

In related news, Director G Walter Loewenbaum II sold 50,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $21.79, for a total transaction of $1,089,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 131,698 shares of company stock valued at $2,761,201 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. increased its position in Luminex by 8.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock valued at $111,000 after acquiring an additional 405 shares in the last quarter. Sei Investments Co. increased its position in Luminex by 38.7% in the 2nd quarter. Sei Investments Co. now owns 8,245 shares of the medical instruments supplier’s stock valued at $174,000 after acquiring an additional 2,299 shares in the last quarter. First Quadrant L P CA bought a new position in shares of Luminex in the 3rd quarter valued at about $173,000. SG Americas Securities LLC boosted its stake in shares of Luminex by 37.4% in the 2nd quarter. SG Americas Securities LLC now owns 9,726 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Luminex in the 3rd quarter valued at about $254,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

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About Luminex

Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.

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